Guild of Guardians mobile gaming raises $5.3M, token sale oversubscribed 82X

Guild of Guardians mobile gaming raises $5.3M, token sale oversubscribed 82X

Guild of Guardians, an upcoming NFT based mobile role-playing game, is reported to have sold out two tranches of its native token (GEMS), amounting to $5.3 million.

The token sale was held on Coinlist on November 30, where it saw an oversubscription of 82 times, with about 808,000 users registered. More than 10,700 new GEM holders from across 100 countries are reported to have purchased a maximum of $500 worth of tokens. 

However, users from Australia, Canada, the United States and China were prohibited from making any token purchases surrounding increasing regulatory concerns in the countries.

GOG has allocated 6 per cent of the total 1 billion tokens to the CoinList sale. In comparison, 63 per cent of the supply would be distributed via community-driven events, the core gameplay and other activities.

The play-to-earn game’s soft launch has been scheduled for Q1 2022, with 400,000 pre-registration of users already been done.

The game is the brainchild of Ukrainian developer Stepico games, collaborating with Immutable X, Australia’s NFT layer 2 scaling solution. Immutable X is recorded to be the first layer 2 scaling solution for NFTs on Ethereum, powered by Galaxy Digital and Coinbase.

Head of Marketing at immutable, Nicholas Kelland, has said that GOG is launching on mobile so that it can be accessible to more people. Kelland was noted saying that not everyone has “really robust gaming rigs and PCs”, so mobile would provide for an “easy choice” for everyone.

The success of GOG’s initial DEX offering (IDO) is registered as play-to-earn gaming is increasingly hitting popularity. In GOG, every in-game asset owned by users own is a tradable and exchangeable NFT.

Kelland said that he thinks the concept of in-game asset ownership is actually “a foregone conclusion,” while it is “a matter of when, not if.” He also added that this goes back to the concept of content creators’ economy and people, where people are “basically owning this stuff that they deserve to own.”

The move comes after the first Founder NFT sale in June 2021, which had recorded to have raised $3 million in only 24 hours. The second wave had raised $5 million, and the third and final wave registered over $4 million.